NetSuite (News - Alert), a vendor of on-demand, integrated business management software suites that include Accounting and Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and e-Commerce software for small and medium-sized businesses and divisions of large companies, has announced NetSuite OneWorld.

This cloud computing solution is designed to enable multi-national and multi-subsidiary companies to effectively manage their global business operations in real-time. OneWorld makes real-time, global business management feasible for the first time by offering the combination of mature, multi-company business application suites with cloud computing delivery.

This new release offers key enhancements to NetSuite’s One System data model to enable multiple companies and subsidiaries to operate in a single database instance.

Considered the biggest product enhancement since the introduction of NetSuite itself, OneWorld provides the product’s signature capabilities to deliver deep and locally/nationally appropriate functionality while providing for instantaneous global roll-up, visibility and compliance management.

NetSuite’s native SaaS (News - Alert) delivery model enables the OneWorld functionality to be accessed anywhere simply by opening a browser. The solution also eliminates the enormous IT issues often associated with traditional approaches to global business management.

The combination of the new NetSuite OneWorld capabilities with NetSuite’s cloud computing delivery platform eliminates the cost and technology barriers facing medium-sized companies operating globally.

NetSuite OneWorld is positioned as the first and only announced on-demand system designed to deliver real-time subsidiary management and business consolidation capabilities to mid-market companies for front-office, back-office and e-Commerce operations.

The solution also provides medium-sized companies with what NetSuite positions as a more powerful, globally integrated system than even the world’s largest companies have.

"We were able to roll out NetSuite OneWorld across three global locations - our U.S. headquarters, a newly acquired subsidiary in France and a newly created subsidiary in Japan - in just 6 weeks," said Tod Harmon, CFO of Six Apart, in a Thursday statement.

"Now with the global deployment complete, NetSuite OneWorld gives us a comprehensive view of our entire operation from a consolidated standpoint -- financials in local currency for our individual entities, as well as reporting on our subsidiaries in a single consolidated, global, multi-currency system."

"NetSuite is the first company to deliver a real-time multi-company, multi-national business system built on a Software as a Service platform that gives mid-market companies local and global visibility across front office and back office operations in real-time. This is a bold move," said Bruce Richardson, Chief Research Officer of AMR Research, in Thursday’s statement.

"With NetSuite OneWorld, we are delivering capabilities to medium-sized companies that even the world's largest companies have failed to achieve after spending millions of dollars," said Zach Nelson (News - Alert), CEO of NetSuite, in the statement.

"The combination of Cloud Computing with NetSuite OneWorld delivers local control with global visibility, not just across financials but across every aspect of the business -- from lead to forecast to order to cash collection."

Additional benefits of NetSuite OneWorld include: allowing companies’ back office ERP operations to act locally and roll-up globally; provide global CRM to improve global selling; make global e-Commerce operations feasible; and deliver real-time analytics for global organizations to make timely course corrections.

Companies throughout the world have found that gathering, tracking and integrating customer information throughout the enterprise leading to better customer relationship building, long-term loyalty, increased revenues and better overall market share.

NetSuite has focused on the needs of those companies pushing global operations and by meeting this significant need, should be able to expand its own market share and increase its competitive advantage.